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FAIRWOOD HOLDINGS LIMITED
(Incorporated in Bermuda with limited liability)
(Stock Code: 52)
GRANT OF SHARE OPTIONS
This announcement is made pursuant to Rule 17.06A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
The Board of Directors of Fairwood Holdings Limited (the "Company") announces that on 18 December 2018, subject to acceptance by the Grantees, the Company has granted 70,000 share options (the "Options") to certain employees of the Company (the "Grantees") under the share option scheme of the Company adopted on 7 September 2011. The Options shall entitle the Grantees to subscribe for a total of 70,000 ordinary shares of HK$1.00 each (the "Share(s)") in the capital of the Company with details as follows:-
Date of grant | : 18 December 2018 |
Exercise price of Options granted | : HK$26.42 per Share |
Number of Options granted | : 70,000 |
Closing price of the Shares on the date of grant | : HK$26.40 per Share |
Validity period of the Options : The Options granted would vest in five tranches which shall be exercisable during periods as set out below:-
(i) 10% of the Options shall be exercisable from 1
October 2019 to 30 September 2025;
(ii) 15% of the Options shall be exercisable from 1 October 2020 to 30 September 2025;
(iii) 20% of the Options shall be exercisable from 1 October 2021 to 30 September 2025;
(iv) 25% of the Options shall be exercisable from 1 October 2022 to 30 September 2025; and
(v) 30% of the Options shall be exercisable from 1 October 2023 to 30 September 2025.
By Order of the Board
Mak Yee Mei Company Secretary
Hong Kong, 18 December 2018
As at the date of this announcement, the Directors of the Company are:
Executive Directors: Mr Dennis Lo Hoi Yeung (Executive Chairman), Mr Chan Chee Shing (Chief Executive Officer), Ms Mak Yee Mei and Ms. Peggy Lee; and
Independent Non-executive Directors: Mr Ng Chi Keung, Mr Joseph Chan Kai Nin, Dr Peter Lau Kwok Kuen, Mr Tony Tsoi Tong Hoo and Mr Peter Wan Kam To.
Website:www.fairwoodholdings.com.hk